Edgecliff Apartments

This 25 unit apartment building on Queen Anne is situated on a large lot with favorable zoning allowing a six story development sometime in the future. Representing the buyer, Savidge Investment Real Estate recommended offering $300,000 over the asking price for this listed property, and secured the building for the client. There was immediate upside in cash flow from rising rents, and just two years later, the land alone is worth the total purchase price. Underlying land value really limits downside for prudent investors, and is the single largest contributor to appreciation of an asset.